Parnassus Investments LLC Cuts Position in Hologic, Inc. (NASDAQ:HOLX)

Parnassus Investments LLC reduced its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,063,421 shares of the medical equipment provider’s stock after selling 105,328 shares during the quarter. Parnassus Investments LLC’s holdings in Hologic were worth $76,662,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HOLX. State Street Corp lifted its holdings in shares of Hologic by 0.8% during the 3rd quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock valued at $847,944,000 after acquiring an additional 81,057 shares in the last quarter. FMR LLC raised its position in Hologic by 64.0% in the third quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares during the period. Victory Capital Management Inc. boosted its position in shares of Hologic by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider’s stock worth $354,506,000 after buying an additional 24,358 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Hologic by 0.7% in the third quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider’s stock valued at $208,051,000 after buying an additional 18,774 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Hologic by 8.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider’s stock valued at $200,952,000 after buying an additional 195,285 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC cut shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Monday, February 3rd. Argus lowered shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Leerink Partnrs lowered Hologic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. BNP Paribas raised Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Leerink Partners lowered Hologic from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Hologic currently has an average rating of “Hold” and an average target price of $84.62.

Hologic Stock Performance

Shares of HOLX opened at $60.70 on Friday. The stock has a market capitalization of $13.62 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The business’s fifty day moving average price is $67.65 and its 200 day moving average price is $74.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. Hologic, Inc. has a 12-month low of $60.33 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Equities research analysts forecast that Hologic, Inc. will post 4.28 EPS for the current year.

Hologic Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.